Remember when Obama promised to offer national health insurance for all Americans. First he granted several hundred of the largest employers in the country exemption from the requirement. How does that possibly increase the quality of health insurance coverage for everyone when significant numbers of the largest employers do not even have to comply?
Then recently the Obama government administration fired the man assigned to run the Long Term Care (LTC) portion of ObamaCare. He basically fired the man responsible for the program with out any intention of naming a replacement. Obama hoped this dismantling of the LTC program would slip by unnoticed just like the employer exemptions granted on the general employer health plan side of ObamaCare.
In fact the LTC portion of the legislation was fatally flawed from its initial design. It was too expensive for each employee for the amount of coverage provided. It offered a nearly useless level of benefit of only $50 per day. It required that an employee pay premium for at least 5 years before you are even eligible to file a claim. An employee who started paying premiums for one year then went into a nursing home would have to pay premiums for four more years before filing a claim. These are just a couple of the most significant design flaws in the legislation.
Where does this program stand today?
Obama Killed it. He fired to man he hired to run it. He burried it without any form of media play or announcement.
What is an employer or an employee to do now?
We can help you design a properly sized cost effective LTC Plan with a reasonable amount of benefit for your needs. If an employee has to go into a Long Term Care facility months after the policy is set up and premiums are paid they are eligible to file a claim and after the exclusion period the LTC benefits will be paid. If you want to learn more about the plans options for your busines please contact us
Polaris Financial Services
(614)-264-3864
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